What the report on the financial statements of TMEDE for 2023 shows

The 7th Annual Report on the Financial Statements of the Public Works Contractors’ Engineering Fund (TMEDE) for the period of operation from January 1, 2023, to December 31, 2023, demonstrates a steady upward trend in profitability, turnover, and EBITDA. Despite facing crises and economic challenges, TMEDE has emerged as a significant pillar supporting the sustainable development of the technical world in the country. The main strategic objective of TMEDE is to strengthen its lending role, support small and medium-sized enterprises in the design and construction sector, and facilitate the integration of young scientists and start-up companies in the new productive model of the country. TMEDE aims to contribute to the technical world s leading role in the national effort for a green and digital future. The report highlights a significant increase in revenues from letters of guarantee by 14.9%, and a 15.84% increase in new performance bonds, amounting to €166.8 million in 2023 compared to €144 million in 2022. EBITDA also increased to €5.6 million, a 29.70% rise from the previous year. Profit before tax saw a substantial increase, reaching €14.18 million in 2023, compared to €1.9 million in 2022. TMEDE has extended and upgraded its loan program through the EAT-TMEDE Guarantee Fund with the Hellenic Development Bank, allowing beneficiaries to receive more working capital through bank lending. The program has granted approximately €45 million to over 350 small and medium technical companies. TMEDE Microfinance Solutions, the first institutional microfinance company licensed by the Bank of Greece, provides integrated services, granting microloans for working capital and investment purposes, up to €25,000, with zero file fees. By June 30, 2024, more than €6.5 million has been disbursed to 310 professionals in the

Source: sofokleous10.gr
Published on 2024-09-12